Almaty, Kazakhstan, September 16, 2025
News Summary
The CCIM Institute has announced new partnerships with Narxoz Business School in Kazakhstan and MVJE GarcÃa y Asociados in Mexico. This strategic expansion aims to enhance real estate education and integrate local knowledge into its curriculum. The news comes amid a larger trend in commercial real estate, with advancements in urban redevelopment and ongoing residential developments across various regions. Notable projects include new luxury condominiums and an adventure facility planned in Chicago, reflecting the evolving landscape of real estate amidst market changes.
Almaty, Kazakhstan – The CCIM Institute has expanded its global reach by announcing new partnerships with institutions in Kazakhstan and Mexico. The partnership in Kazakhstan is with Narxoz Business School, situated in the city of Almaty, while the collaboration in Mexico involves MVJE GarcÃa y Asociados, based in Mexico City.
This strategic move reflects the CCIM Institute’s commitment to enhancing real estate education and expertise worldwide. By joining forces with these institutions, the Institute aims to integrate a broader array of knowledge into its curriculum and provide local professionals with advanced training in commercial real estate.
In tandem with these announcements, the CCIM Institute’s move comes amid a larger trend in the commercial real estate sector. Market dynamics are shifting, particularly in areas such as urban redevelopment and mixed-use developments. In related industry news, JLL Work Dynamics has promoted Justin Sandherr to Managing Director within their Consumer Goods and Services division. Sandherr’s role will focus on creating robust real estate strategies specifically tailored for consumer goods companies, as well as enhancing JLL’s specialized expertise within this sector.
Additionally, residential development continues to thrive in urban areas. Toll Brothers, Inc. has unveiled Coldwater Ridge, a newly opened multifamily community located in Northville, Michigan. This community features luxury condominiums situated in proximity to local shops, dining options, and entertainment venues, enhancing the appeal of urban living.
In Indianapolis, Indiana, JFB Construction Holdings has entered into a contract for design-build services to develop Prison Island, an indoor adventure destination aimed at family entertainment.
In retail real estate news, Marcus & Millichap successfully brokered the sale of Pacesetter Plaza, a 17-suite retail strip anchored by Family Dollar, in South Holland, Illinois, for $3.745 million. The transaction was executed by a team from Marcus & Millichap’s Oak Brook office.
Furthermore, SVN Chicago Commercial’s Cawthon-Labriola Group has sold a six-unit mixed-use building in Pilsen, Chicago, for $1.42 million. The building comprises five recently renovated residential units and a newly secured five-year retail lease.
In a significant redevelopment initiative, a development team hired by Mavrek and Acres Commercial Realty has procured over $90 million in financing for the conversion of a historic office tower located at 65 E. Wacker Place into 252 modern apartments. This 24-story building, originally known as the Millinery Mart Building when it opened in 1928, is set to feature amenities such as a co-working lounge and a rooftop deck, with construction set for completion by spring 2026.
The evolving Chicago commercial real estate market aligns with increasing demands for industrial, multifamily, and mixed-use developments. The trend of redeveloping older office buildings into new functional spaces is opening opportunities for various uses, including coworking spaces and residential developments. Despite challenges like rising interest rates and vacancies in older office buildings, there remains a robust demand for urban living. Integra Realty Resources reported a 6.4% increase in the median net rent for upscale apartments from the second quarter of 2024 to the second quarter of 2025.
Efforts towards revitalization and public-private partnerships aim to promote affordable housing and adaptive reuse projects, with financial partners such as Republic Bank playing a crucial role in aiding developers through the current real estate landscape.
FAQ
What is the CCIM Institute?
The CCIM Institute is a commercial real estate organization that provides education, information, and networking opportunities to professionals in the field.
Where are the new partnerships located?
The new partnerships are located in Kazakhstan at Narxoz Business School in Almaty and in Mexico with MVJE GarcÃa y Asociados in Mexico City.
What projects are being developed in Chicago?
A significant project includes the conversion of a vintage office tower at 65 E. Wacker Place into 252 apartments, featuring improved amenities. Additionally, several mixed-use and luxury residential projects are underway.
Key Features
| Partnership | Location | Focus |
|---|---|---|
| CCIM Institute & Narxoz Business School | Almaty, Kazakhstan | Real Estate Education |
| CCIM Institute & MVJE GarcÃa y Asociados | Mexico City, Mexico | Real Estate Expertise |
| Toll Brothers, Inc. (Coldwater Ridge) | Northville, Michigan | Luxury Condominiums |
| JFB Construction Holdings Prisons Island | Indianapolis, Indiana | Indoor Adventure Facility |
| Mavrek & Acres Commercial Realty | Chicago, Illinois | Apartment Conversion |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Connect CRE: SVN Chicago Commercial Sells Pilsen Mixed-Use Property
- Wikipedia: Commercial Real Estate
- Chicago Business: Development Team Lines Financing
- Google Search: Chicago commercial real estate
- Daily Herald: Trends Shaping Chicago’s Commercial Real Estate Market
- Google Scholar: Chicago commercial real estate market
- CBRE: Chicago 2025 U.S. Real Estate Market Outlook
- Encyclopedia Britannica: Commercial Real Estate
- Re Journals: Cawley Commercial Real Estate Adds Associates
- Google News: Chicago real estate development
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